Auto-enrolment: time is running out
The Pensions Regulator has urged accountants to spread the “know your date” message out to clients in response to the upcoming automatic enrolment challenge.
With less than a year to go until the initial roll-out, auto-enrolment is set to radically transform workplace pension saving. It will also require businesses to put forward a substantial upfront investment in HR, payroll and pensions processes and systems.
Speaking at the AIMS Conference this week the regulator’s Joanna Hancock focused her presentation on maximising compliance: "our goal is to educate and enable employers to fulfil their duties". [Employers' duties and detailed information on phasing can be viewed on the Pensions Regulator website.]